Phillips 66 (NYSE:PSX) Sets New 1-Year High – Here’s What Happened

Phillips 66 (NYSE:PSX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $148.10 and last traded at $148.0070, with a volume of 4261298 shares changing hands. The stock had previously closed at $142.24.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho raised their price target on Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Scotiabank reissued a “sector perform” rating and issued a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Raymond James Financial increased their price target on shares of Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, UBS Group reiterated a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, Phillips 66 has an average rating of “Hold” and an average target price of $154.47.

Phillips 66 Stock Performance

The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a market cap of $59.63 billion, a PE ratio of 40.44, a P/E/G ratio of 0.51 and a beta of 0.90. The stock’s 50 day moving average price is $137.28 and its 200 day moving average price is $133.17.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $145.00, for a total transaction of $637,130.00. Following the transaction, the executive vice president owned 30,193 shares in the company, valued at $4,377,985. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,825,455.84. The trade was a 31.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 86,094 shares of company stock valued at $11,955,366 over the last three months. 0.22% of the stock is owned by company insiders.

Institutional Trading of Phillips 66

Several large investors have recently bought and sold shares of PSX. NewEdge Wealth LLC lifted its position in shares of Phillips 66 by 30.5% during the fourth quarter. NewEdge Wealth LLC now owns 11,541 shares of the oil and gas company’s stock worth $1,489,000 after purchasing an additional 2,697 shares in the last quarter. Drucker Wealth 3.0 LLC increased its stake in Phillips 66 by 12.3% during the 4th quarter. Drucker Wealth 3.0 LLC now owns 6,336 shares of the oil and gas company’s stock worth $818,000 after buying an additional 694 shares during the period. Crossmark Global Holdings Inc. increased its stake in Phillips 66 by 9.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 22,680 shares of the oil and gas company’s stock worth $2,927,000 after buying an additional 1,950 shares during the period. Ethic Inc. lifted its holdings in Phillips 66 by 6.0% in the 4th quarter. Ethic Inc. now owns 16,814 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 955 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in Phillips 66 by 2.4% in the 4th quarter. Ballentine Partners LLC now owns 3,444 shares of the oil and gas company’s stock valued at $444,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.